Changmao (Dalian) New Material Co., Ltd. is a wholly-owned subsidiary invested and constructed by our Group in the Fine Chemical Industry Park of Dalian Changxing lsland Economic and Technology Develop- ment Zone on December 25, 2020, with a registered capital of RMB 300 million, which covers an area of 186760 m². We mainly engage in the production and sales of special anhydrides, new feed additives, oil products, and biodegradable plastics, etc.